After three years the Cavaliers can regain his Bird Rights, opening the door for James to sign a five-year deal with 7.5% raises each year.

It's believed the salary cap for the 2016/17 season will be $92 million, a rise of over $20 million from this year's $70 million.

If James decides to re-sign in Cleveland, he could pen a four-year deal with 7.5% raises at 35% of the salary cap as he has played in the league for over 10 years and been with the Cavs for two years.

This could leave him with earnings of around $135 million over four years, but if he chooses to wait a further year he could hit the magical $200 million mark.

Rumors of a $114 million salary cap for the 2017/18 season open the door for the possibility of James signing a five-year deal with a base salary of $36.7 million.

With 7.5% raises, his five-year contract would be worth a staggering $211.5 million.

James' portfolio of sponsorship deals with the likes of Nike, Kia, McDonald's and Coca-Cola push his earning capacity even higher, meaning he could soon become one of the top five highest paid athletes in the world.

Boxers Floyd Mayweather ($300m) and Manny Pacquiao ($160m) topped the Forbes list for top earners in sport in 2016, with footballers Cristiano Ronaldo ($79.6m) and Lionel Messi ($73.8m) in third and fourth place.

Tennis star Roger Federer completed the top five with $67m earnings, with James just behind on $64.8m, so his future NBA contracts are likely to see him move further up the table.